According to the industry analysis report titled ‘Global Active Pharmaceutical Ingredient (API) Market - Analysis By Drug Type (Generic, Innovative), Synthesis (Synthetic, Biotech), By Application, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’ available with MarketStudyReport, global active pharmaceutical ingredient market, which had amassed a valuation of USD 179.6 billion in 2020, is anticipated to garner a sizable returns during 2021-2026.

The growing geriatric population, rising technical breakthroughs, increasing number of API manufacturing facilities, and mounting R&D activities are some of the major factors driving the growth of the global active pharmaceutical ingredient market.

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Growing awareness as well as surging investments has impelled the demand for new drugs, which in turn is pushing the number of clinical trials. To that effect, the outbreak of the COVID-19 pandemic has also positively influenced this marketplace owing to
the rising demand for the active pharmaceutical ingredients.

The biopharma companies are deploying strategic ventures to gain access to new advanced technologies, expand their reach, and increase capital for investments as well as clinical trials on account of the rising death toll from the COVID-19 virus.

Global active pharmaceutical ingredients market is fragmented based on application type, drug type, synthesis type, and regional landscape.

Based on application spectrum, the market is further divided into cardiology, neurology, diabetes, oncology, and others Moving on to drug type, the industry is segmented on the basis of generic API and innovative API segments.

As per the synthesis type, the market is segregated into synthetic and biotech.

Regionally, active pharmaceutical ingredients market share in Asia Pacific is witnessing impressive growth in recent past and is projected to expand considerably over the forecast timeline, owing to the high demand from India, Japan, and China given their booming populations and increased pervasiveness of infectious diseases.

Pfizer Inc., AbbVie Inc., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., Bristol-Myers Squibb, GlaxoSmithKline plc, Novartis AG, Merck KGaA, Sanofi S.A., and Boehringer Ingelheim are the key players operating in global active pharmaceutical ingredients market.